ACH Industry News
NACHA Rule Change - September 2007
WEB/TEL Individual Name RequirementEffective September 21, 2007
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The National Automated Clearing House Association (NACHA) Rules reclassify the Individual Name1 field for consumer debits authorized via telephone (TEL) and via the Internet (WEB) as a mandatory field. Originating Companies must insert the name of the individual receiver on the entry. For format editing purposes, entries that contain spaces, all zeros, or a combination of spaces and zeros in the Individual Name field will reject. Originating companies that fail to include the Individual Name for these entries may be liable for any resulting fines imposed by NACHA for Rules violations.
1 The Individual Name field is in positions 55 - 76 of the Detail '6' Record.
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